Bajaj ready to take on Nano

Targeting the Indi an four-wheeler market, Bajaj Auto Ltd (BAL) on Monday joined hands with Renault-Nissan to launch a small car in India by 2011 that will compete with Tata Nano. In a joint press statement on Monday, Mr Rajiv Bajaj, managing director, BAL, and Mr Carlos Ghosn, president and CEO, Renault and Nissan, said that they would form a JV company to develop, produce and market the car, code-named ULC, whose economy version would be priced at $2,500.